The ACME Company purchased a special machine 1 year ago at a cost of $30,000. At that time, the machine was estimated to have a useful life of 6 years and $6,000 salvage value. The annual cash operating cost is approximately 415,000. A new machine has just come on the market which will do the same job but with an annual cash operating cost of only $14,000. This new machine costs $20,000 and has an estimated life of 5 years with zero salvage value. The old machine can be sold for $14,500 to a scrap dealer. Straight-line depreciation is used, and the companys income tax rate is 30 percent. Assuming a cost of capital of 10 percent after taxes, calculate: (a) the initial investment; (b) the incremental cash inflow after taxes; (c) the NPV of the new investment; (d) the IRR on the new investment.